The release of the 2008-09 Federal Budget last night revealed funding for new and existing products and services to assist businesses. Some of the initiatives included in this year's budget are listed below.
New programs or services
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Establishment of Enterprise Connect Innovation Centres
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Introduction of programs to help tackle climate change including the Clean Business Australia initiative
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Support for small businesses to implement family friendly working arrangements.
Tax changes
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Increased access to small business Capital Gains Tax concessions
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Introduction of a Superannuation Clearing House Facility in 2009-10
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Simplified financial product disclosure
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Changes to the Fringe Benefits Tax.
Existing programs
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Increased support for Business Enterprise Centres
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Extension of the Business Ready Program for Indigenous Tourism
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Additional funding for the Export Market Development Grants Scheme
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Increased places in the Migration Program to help ease the skills shortage
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Continued funding for Exceptional Circumstances.
For details on budget announcements related to the Innovation, Industry, Science and Research Portfolio, visit the Innovation website. For a full copy of the Budget and details on all of the initiatives above, please visit the Budget 2008-09 website.